• AUD/USD:Trailing stops topside
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  • Sounds of sudden silence
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  • Nikkei,Kospi both open -1.4%
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  • Noda:G7 held broad talks covering US and European debt and economies
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  • Japan FinMin Noda to give statement on G7 call at 23:25 GMT
  • USD/CHF orders
    Real money funds seen selling at .7620 […]
  • EUR/USD back to where it started
    USD/CHF has put in an even bigger move. It seemingly traded to .7480 in early interbank madness and is now 150 pips higher (and they are big pips!) Remember that rumours of the S&P downgrade was in the NY market for much of Friday afternoon and yet the Dow Jones finished slightly higher. This morning’s […]
  • Geithner:S&P showed terrible judgement
    US has absolutely every capacity to meet its obligations US Treasuries are absolutely as safe this week as last Budget debate caused a lot of damage Europe must ensure that it has support in place for countries with debt problems (Reuters reporting on a US TV interview) […]
  • AUD/USD:Closing in on recent lows
    The AUD/USD fell by over 6% last week and it’s opening the new week on a weak note as well. Falling commodity prices,worldwide growth concerns and massive risk-aversion all add up to a bearish scenario for the AUD. Next major technical support in the AUD/USD is a previous pivot and the 200-day MA near […]
  • US stock index futures fall 2.5%:Gold at new record highs
    The only stock market which has opened since the US downgrade is Tel Aviv,and it fell by 7% Gold has opened above $1690/oz US crude oil has fallen by $2 to $84.70/bbl […]
  • ECB statement will need to be backed by coordinated actions
    The brief statement by the ECB would seem to suggest that they will be more aggressive in their purchasing of both Spanish and Italian bonds,presuming that both these countries continue to implement the necessary reforms. The statement was very brief and short on details but it looks like the ECB will be working harder […]
  • EUR/USD:Retail market happy to sell into strength
    EUR/USD has dipped 50 pips immediately after most retail platforms came online. Dealers say that liquidity is ‘not bad’ for a Monday morning considering everything that’s going on around different markets. We will now await the opening on Asian bourses in about two and a half hours to see whether major risk aversion kicks in […]
  • EUR ticks higher again as ECB statement headlines hit newswires
    ECB welcomes joint commitment expressed by France and Germany Will actively implement bond-buying program Fundamental that governments stand ready to activate EFSF when ready in secondary markets (Over Reuters) […]
  • EUR/USD:Option-related stops above 1.4460
    Reasonably big stops reported on the topside […]

Australian Dollar Rally To Be Short-Lived,Euro Capped By 20-Day SMA

The Australian dollar outperformed against its currency counterparts on Thursday as the economic docket reinforced an improved outlook for the region,while the Euro slipped to a low of 1.3165 as fears surrounding the European debt crisis continued to weigh on market sentiment.

Daily Winners and Losers





Daily Change (pip)

Daily Range (pip)







The Australian dollar outperformed against its currency counterparts on Thursday as the economic docket reinforced an improved outlook for the region,but the rebound in the exchange rate is likely to be short-lived as the Reserve Bank of Australia maintains a cautious outlook for the $1T economy. The AUD/USD remains nearly 40pips higher on the day after falling back from a high of 0.9885,and the pair may continue to retrace the overnight advance as market sentiment falters. As price action struggles to hold above the 120 moving average at 0.9846,the bearish divergence in the relative strength index reinforces a bearish outlook for the aussie-dollar,and the exchange rate may fall back towards the 10-Day SMA at 0.9757 to test for short-term support. As the head-and-shoulders top remains intact,the reversal in the exchange rate should gather pace going into the end of the year as interest rate expectations deteriorate.

Yahoo Finance

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